Tag: tax planning

Tax Planning and tax evasions are legal jargons that always confuse a layman. When it involves tax savings there are a pair of terms that are important to know. Tax planning and tax avoidance are a number of them. repeatedly they're used as interchangeable terms though there's an enormous difference between them. allow us to find the difference between these two terms. The assessee can reduce his/her tax liability by legal means in any of the two ways- tax planning and tax avoidance. Tax planning is described because of the arrangement of monetary activities in a very way that the assessee can avail of maximum tax benefits by making the simplest possible use of the advantages,i.e, deductions, exemptions, etc. On the contrary tax avoidance may be a technique of refraining from lia...